The RUT pushed up much stronger than I expected Thursday and Friday. The Feb method 15 trade which was at our target on Wed got a little beat up with the large move Thursday and with the continuation on Friday, it was a little too risky to stay in the trade this close to expiration so I made a choice to exit it Friday afternoon at a smaller than expected profit. We ended up making $919 after commissions on the maximum capitol of $5409 in the trade for a total of 16.9%. Planned capitol was $7000, so using that number we made 13.1%. Not as much as I was hoping for but it wasn’t bad so I’m happy.
The Method 1 Trade is still open. The movement in the market hurt this trade as well but it is still profitable and up about $200. Basically this close to expiration, it usually does not make sense to adjust these so we are basically at the mercy of the market. Max loss is $800 and I’d probably close the trade if I can get $500 out of it. Current position is below:
And the March 55 day looks great:
We will look at adding the rest of the March positions on Tuesday and the April 55 day towards the end of the week.